What Advisers Want

With mutual fund redemptions expected to surpass $325 billion in 2008, kasina said it is now more critical than ever for firms to maximize wholesalers’ effectiveness in communicating with financial advisers.

According to a release of kasina’s latest research, 26% of advisers said buy/sell decisions, on average, are directly influenced by wholesalers. For wholesalers, that number “signals room for future improvement,’ kasina said.

kasina said advisers want the following from wholesalers:

segmentation: customized sales strategy based on adviser experience levels and business models;

product expertise: understanding of how products interact and add value to portfolios

listening to adviser needs

providing value-added programs that are client-focused and unique

building a relationship beyond quarterly meetings.

“Given investors’ and advisers’ anxieties in the current market environment, it is particularly important that wholesalers come prepared to bring demonstrable, customized value to every conversation they have with advisers,’ said Lindsay Geimer, a senior consultant at kasina and lead author of the study, in the release.

The study, “Maximizing Advisor Interactions: Dos and Don’ts for Wholesalers,’ used survey and interview results from 343 advisers.